Tuesday 6th of April

Good morning folks, I hope you’re well!

To keep you folks updated in everything – I closed EUR/NZD yesterday for profit

Trade Update:

EUR/NZD is a trade I took back in March, it was a clear 4 hour set-up in my books so I executed it without any hesitation

I manually closed the position for 2.8R since the price had reached my profit target on tradingview and more or less instantaneously reversed, without my broker tagging me out.

I have come to realise it’s better to be happy with 2.8R rather than wait and see if the price goes back down for 3% or see it turn itself into a BE trade.

There is one problem with my position, I did not take a scale in. I cannot tell you why not, I do not recall, however that was a mistake on my part, I did not execute my trading plan as I should’ve have

It’s possible that it was due to some fear I had knowing USD/CHF and AUD/NZD were both running in the red at the time? Maybe because I wanted to see a 1hour scale in bank some profit for the first time this year? I do not know. However, that’s a big mistake I should’ve executed.

Anyway, enough talk about the past, let’s have a look forward

I’ll keep this watch short of commentary since I’ve been eyeing up these pairs for quite a while now, it’s becoming rather repetitive for you I’m sure!

FX Watchlist

CAD/JPY